Multi-Use Commercial Asset For
For Sale
$1,699,999
77 Foundry Ave, Batavia, OH 45103
26,000+ SF multi-use commercial asset with warehouse and office space.
Property Size26,000 SF
Lot Size1.68 Acres
Price / SF$65.38
Days on Market207
Property Features for 77 Foundry Ave
General Information
Standard status
Active
Size
26,000 SF
Lot size
1.68 Acres
Taxes and HOA fees
Annual Taxes
$10,102
Listing Agency:
Ragan McKinney Real Estate
(937) 444-7355
Listed By:
Ragan R McKinney · License #0000160440
(937) 444-7355
Source:
Exprealty
Added: Jan 26
Changed: Aug 20
Last Checked: Aug 21 at 10:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ragan McKinney Real Estate
Investment Insights
Based on property information with market context.
This multi-use commercial asset offers over 26,000 square feet, including nearly 20,000 square feet of high-ceiling warehouse space reaching 25+ feet. The fire-retardant construction is suited for logistics, industrial, or high-volume users. The property features multiple overhead doors. It also includes two modernized office suites: a lower-level unit with over 3,000 square feet and a private entry, and an upper-level space with over 3,000 square feet, a full kitchen, six offices, and common areas. These office suites are suitable for an owner-occupant or additional rental income. The property has over 70 parking spaces to code and rail adjacency. An additional lot fronts the Little Miami River for expanded access. The property is located in Batavia, OH.
Key Highlights
- Over 20,000 SF of high‑ceiling (25'+) warehouse space suitable for logistics, industrial, or high‑volume users.
- Two modernized office suites totaling over 6,000 SF, suitable for owner‑occupancy or rental income.
- Over 70 parking spaces to code.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$135,998
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,719,960
$2.7M
Cap Rate 7%
$1,942,829
$1.9M
Cap Rate 9%
$1,511,089
$1.5M
Market Conditions
NOI Build-Up for 26,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$202.8K $7.80/SF
− Vacancy
−$8.5K −$0.33/SF
EGI
$194.3K $7.47/SF
− OpEx
−$58.3K −$2.24/SF
NOI
$136.0K $5.23/SF
Area
Clermont County, OH
Vacancy
4.20%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,719,960
Cap Rate 7%
$1,942,829
Cap Rate 9%
$1,511,089
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,717 @ 7.0% cap · market cap 14.40%
Second Best
Warehouse
$2.36M
$2.06M – $2.75M
NOI $165,140 @ 7.0% cap · market cap 9.71%
Theoretical Best
Office A
$4.66M
$4.08M – $5.44M
NOI $326,290 @ 7.0% cap · market cap 19.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
362
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 45103, OH
35,237
Population
14,928
Households
2.4
Avg Household Size
39
Median Age
27%
College-Educated
90%
High-School Grad
85.3 sq mi
ZIP Area
413
Density / Sq Mi
$81,837
Median Household Income
$45,027
Median Earnings
$1,050
Median Rent
$242,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 26,000+ SF multi-use commercial asset with warehouse and office space.
Where is this flex space located?
The property is located at 77 Foundry Ave Batavia, OH.
What is the asking price?
The asking price for this property is $1,699,999.
What are key features of this property?
This property features: Over 20,000 SF of **high‑ceiling (25'+) warehouse space** suitable for logistics, industrial, or high‑volume users.; Two modernized office suites totaling over 6,000 SF, suitable for owner‑occupancy or rental income.; Over 70 parking spaces to code.
